Defining Risk Calculations through a Risk XBRL Taxonomy | News and Events

FRSGlobal

Webinar - Defining Risk Calculations through a Risk XBRL Taxonomy

This webinar was held on Wednesday March 4, 2009: 2:00 to 3:00pm EST

Learn how a standardized Risk Taxonomy, delivered via XBRL, could resolve many of today's reporting problems

Featuring Scott L Mitchell, CEO of OCEG (Open Compliance & Ethics Group) presenting on why the risk taxonomy is so important and what OCEG is doing in relation to XBRL.

Regulators require that internal and external reporting is produced from reconcilable data sources - how are financial institutions going to meet that demand?

Risk and regulatory data is reported both internally at financial institutions and externally to regulators on a daily basis
Until now there has not been a "standard" way of reporting risk data
There are regional variations between regulators with regards to Basel II calculations and reporting requirements
Further variations will arise when the U.S. adopts IFRS standards

Perhaps most troubling are the variations within a financial institution itself.

For example a Credit risk loss calculated by the front office of a business unit will be different from the methodologies utilized by the regulatory and economical capital groups within that financial institution.

XBRL is a language for the electronic communication of business and financial data which is revolutionising business reporting around the world.

This webinar will detail how a standardized risk taxonomy delivered via XBRL will help to solve many of today's reporting problems and examine....

The current conflicting practices within financial institutions
What conflicting areas could be quickly changed, and
Which areas will require a major overhaul in the internal risk analyses as seen in the managerial and regulatory reporting of a financial institution.

To access a recording of the webinar and the slide presentation please fill out the form below:

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Andrew Liegel, Senior Product Manager, FRSGlobal

Scott L. Mitchell

Chairman & CEO of OCEG and a recognized leader in corporate governance, risk management, internal control, compliance and ethics. Mr. Mitchell has been named as Top 60 Influencers two years in a row by Business Finance Magazine and as one of the Top 100 executives in Treasury and Risk Magazine. Mr. Mitchell has also been featured two years in a row by Human Resource Executive magazine as one of the top 25 thought leaders in their "Forecast" series.

OCEG (Open Compliance & Ethics Group) is a non-profit organization that uniquely helps organizations drive Principled Performance™ by enhancing corporate culture and integrating governance, risk management, and compliance processes

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